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Dallas/FortWorth Apartment Market Update

By: Pat Oconnor

The Dallas/Fort Worth area multifamily metrics recorded mostly positive changes in November.

Overall occupancy recorded a decline for the second consecutive month after continuously increasing until September. Occupancy for Class A properties stood at 94.7% and for Class B at 92.7%. Over the year, occupancy has gone up by 1.3% each for both the classes.

The average rental rates per square foot remained unchanged over the month for Class A and Class B properties. The average went up by $0.001 for Class C properties and came down by the same margin for Class D properties.

The average rental rate per unit recorded increases for all classes except Class A. For this class, the average decreased by $0.25 to close at $1,037.85 per unit. Over the year, the average has improved by $7.08 for Class A properties; the change was largest annual change among the four classes.

8,779 units are in the construction pipeline; 13.9% of these are pre-leasing.
Dallas/Ft. Worth Apartment Market Key Metrics

Occupancy

91.49%

Rent / Unit

$770.20

Rent / SF

$0.900

Monthly Change

-0.14%

Monthly Change

+$0.32

Monthly Change

+$0.001

Annual Change

+1.31%

Annual Change

+$6.19

Annual Change

+$0.007

Absorption in October was negative 697 units, bringing the annual total to a positive 9,521 units. 6,953 units are in the planning stage.

Quality real estate market data provides decision makers the information to make informed decisions. O’Connor & Associates has been providing market data since 1988. Timely, accurate real estate data also provides the information our real estate appraisers, consultants, and property tax consultants need. Our ability to research, analyze and interpret market trends is a major reason for why developers and acquisition experts rely on O’Connor & Associates for market studies, feasibility studies, rent studies, tax credit studies, project design guidance, property performance valuation and lease audits. O’Connor & Associates is an acknowledged source of trends in real estate investing and market activity. Lenders, appraisers, developers, investors, tenants and real estate brokers are just some of the real estate professionals who regularly need real estate market data. They seek timely raw data and summary statistics regarding the market and submarkets. O’Connor & Associates has been providing this information since 1988.

Article Source: http://articles.tiptopweb.info

Our ability to research, analyze and interpret market trends is a major reason for why developers and acquisition experts rely on O’Connor & Associates for market studies, feasibility studies, Austin Retail Lease, rent studies, tax credit studies, project design guidance, Austin Retail Space, property performance valuation and lease audits.

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Dallas/FortWorth Apartment Market Update addthis_pub = 'ex_plo_rer';

Dallas/FortWorth Apartment Market Update